Opening a CU account and patriot act

[Ms N]

Hello, and I would like to say that this new column Banking and Finance is very helpful and interesting. My question is , I would like to open a saving account share with a cu that I am eligible to join. I have a checking account in good standards, with a cu that I have been a member of for the past 6 years. I currently have a small direct deposit with a small cu, that my sister added me on, but this cu do not have an atm, and recently had an incident of an employee, embezzling money from them and no one without perfect credit has been able to get a loan since. I believe that you put your money, where you can get help and service when needed. I was told the cu that i would to join would pull credit for a savings, due to the patriot act . My fico is 571, I am currently in a ch 13
5 year plan, with a 17 months to go, and would like to build a relationship, with them, they have great deals, but can they decline my membership based on my chap 13. Any input will be greatly appreciated.

Me N.

[DHK]

I would ask about their membership savings. I *believe* that the requirements for a membership or share savings are VERY lenient. They may pull credit for the checking, but if you keep your savings in good standing, it may help to get management to override any negative risk screening.

Good luck!

[Ms N]

Thanks, I am going to try for a savings account tomorrow.
Ms. N

[Ravenous Wolf]

I was told the cu that i would to join would pull credit for a savings, due to the patriot act . My fico is 571, I am currently in a ch 13
5 year plan, with a 17 months to go

That is not due to the Patriot Act...

In today's competitive environment, everybody and their grandmother wants to check your credit. Even simple things like utilities, everybody wants to check your credit. They can stick you with higher charges and other fees.

Some companies have taken this to insanity and are perfectly willing to cut their nose to spite their face. Like a friend of mine called up a pest control service. They gave him a quote and then wanted to check his credit. My friend told him that he would pay by cash. That company refused to provide him with the service. It was check your credit or else...

My friend took the else...

As more industries find ways to squeeze more dollars out of consumers (insurance, etc...), they will continue to check your credit for some of the most mundane things.